Companies House fines

Companies House fines

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I have quite a sad situation with a client that came to me for help - sadly too late.

To cut a long story short small limited company has been struggling for a long time hasnt dealt with VAT and accounts for months (Ok years) - the director just put his head in the sand. Wife tried to help, kept the business afloat by paying her own money in and now its come to a head. The company just cant pay its debts and I suspect HMR&C will liquidate the company soon. In the meantime Companies House have issued notices regarding the failure to submit accounts and threats of court action to impose the max £5k penalties. Has anyone evre had experience of this and if so have directors been fined the full amount?
Nicola

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By johnpaylor
27th Nov 2005 14:47

See an Insolvency Practitioner soon
If the company is likely to go into liquidation, I suggest you arrange a metting with an insolvency practitioner to arrange this sooner rather than later. When Companies House are aware that the company is in liquidation, even if irt is a solvent liquidation, they no longer press for accounts to be submitted, other than those for which the liquidator is responsible.

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